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Posted by macabequeen on January 30, 2007, 12:09 pm
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My husband is self employed and says that because he
itemizes, i have to itemize. we file seperately because his
is so complicated, he's almost always late filing. The
problem is, he doesn't have a mortgage or property taxes or
anything like that to itemize. He itemizes business
expenses and the like. Does that still count. So I still
have to itemize?
Please help.
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Posted by Phil Marti on January 30, 2007, 10:11 pm
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> My husband is self employed and says that because he
> itemizes, i have to itemize. we file seperately because his
> is so complicated, he's almost always late filing. The
> problem is, he doesn't have a mortgage or property taxes or
> anything like that to itemize. He itemizes business
> expenses and the like.
I'm sure he has countless wonderful qualities, but tax
expert isn't among them. His business expenses go on
Schedule C, which has nothing to do with itemized
deductions, which go on Schedule A. Those are such things
as mortgage interest, state and local taxes and charitable
contributions.
You both must use the same deduction method--standard or
itemized--but his business expenses have nothing to do with
it.
--
Phil Marti
Clarksburg, MD
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
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Posted by Bill on January 30, 2007, 10:11 pm
Please log in for more thread options macabequeen@yahoo.com posted:
> My husband is self employed and says that because he
> itemizes, i have to itemize. we file seperately
> because his is so complicated, he's almost always late
> filing. The problem is, he doesn't have a mortgage or
> property taxes or anything like that to itemize. He
> itemizes business expenses and the like. Does that
> still count. So I still have to itemize?
Well, he's correct that if you file separately and one of
you itemizes, the other also must do so. However, his
late-filing practice doesn't necessarily have to preclude
your filing jointly -- as it would be possible to file Form
4868, for an automatic extension of filing time (so long as
tax due is paid by the normal filing date, there is no
penalty).
The other question is, does your husband _have_ to file his
business expenses as itemized deductions? There may be an
option for him to include them as a part of his costs of
self-employment, using Schedule C, and still file MFJ.
If you haven't done so, I would recommend you and your
husband consider consulting with a tax accountant (or an
Enrolled Agent), to weigh the alternatives and their effect
on total taxes due.
If's entirely possible that the MFS option is better than
MFJ ... but at least you might feel better, for having
explored the alternative.
[Please note this group, and particularly this poster, have
no qualifications for moderating marital disagreements --
and take no responsiblity in that area.]
Bill
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
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Posted by Missy on January 30, 2007, 10:11 pm
Please log in for more thread options macabequ...@yahoo.com wrote:
> My husband is self employed and says that because he
> itemizes, i have to itemize. we file seperately because his
> is so complicated, he's almost always late filing. The
> problem is, he doesn't have a mortgage or property taxes or
> anything like that to itemize. He itemizes business
> expenses and the like. Does that still count. So I still
> have to itemize?
He is not itemizing when he takes expenses for the business.
Itemizing goes on Sched A and business expenses go on Sched
C. It sounds like both of you would profit from having a
professional to help you with your taxes.
Missy Doyle
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
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Posted by Rich Carreiro on January 30, 2007, 10:30 pm
Please log in for more thread options macabequeen@yahoo.com writes:
> My husband is self employed and says that because he
> itemizes, i have to itemize. we file seperately because his
> is so complicated, he's almost always late filing. The
[snip]
> So I still have to itemize?
You don't *have* to, but if one of the spouses in a "married
filing separately" situation itemizes, then the standard
deduction for the other spouse is *zero*. So you should
itemize.
--
Rich Carreiro rlcarr@animato.arlington.ma.us
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
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